Building a Brand
The Critical First Step Is to Build Brand Awareness
Key idea: There are many ways to promote your brand that don’t require expensive marketing. The key is to be patient as your credibility grows among prospects in your target market.
Misty Bolt is an independent insurance broker whose brand, MedicareMisty, is synonymous with Medicare insurance in Chattanooga, Tennessee. This week on Stay Paid, Misty discusses her experience building a brand from scratch.
Her interview is an engaging conversation about practical actions an entrepreneur can take to build brand awareness interlaced with emotional anecdotes and words of inspiration for those who question whether their businesses will succeed.
In terms of the former, Misty shares the strategy and inventive tactics she used to build her insurance business after she was laid off as a captive agent. She had no money to begin marketing her Medicare business, but what she did have was a desire to help people in her community get what they needed. Then and now, MedicareMisty constantly looks for ways to help people. Misty notes that every time she gives, she receives, and her business benefits.
What exactly those benefits are is difficult to identify. For instance, it’s not as if Misty signed nine new clients because she sponsored the local Little League team. Still, it’s obvious that knowledge of her business grows every time it’s seen or heard—and creating such brand awareness is the critical first step in building a successful business.
It’s branding’s nebulous return on investment that causes many business owners not to invest in brand marketing. This is a mistake. No matter how well-designed your logo may be, how clever your business name is, or much your product or service may change the market, if you don’t first capture your audience’s attention, none of it matters.
Please enjoy this episode, and we’d appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts.
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